With the world of economic news awash in negativity, how is everyone feeling out there? Does the Vancouver real estate crash have you feeling down? Are you concerned about your bank account or retirement options?
Depending on your current situation you may feel either depressed or optimistic about the direction our local economy is going. On one hand the current real estate correction is a strain on those who are over-leveraged and need to sell, on the other hand dropping home prices are a positive development for those that have been ‘priced out’ of the market.
I assume that everyone reading this site is interested in purchasing real estate, but only when it makes sense to them personally. What factors will you use to figure out if you’re financially and emotionally ready to enter the market, and are you ever concerned that your optimism or pessimism are habitual rather than rational? Is it time to buy, or is it time to sell and cut losses?